Shanghai(AFP) - China has given the go-ahead for three more free-trade zones, statemedia reported, despite the country's first project in Shanghai proving disappointing 18 months after its establishment.
A meeting of the Communist Party's politburo hosted by President Xi Jinping on Tuesday approved zones in the southern province of Guangdong, eastern provinceof Fujian and northern city of Tianjin, the official Xinhua news agency reported.
China's commerce ministry had already announced in December that three FTZs would beset up in those Ic ions.
State media have said the Guangdong FTZ aims to speed economic integration with neighbouring Hong Kor special administrative region of China.
The Fujian zone is focussed on Taiwan, which China considers part of its sovereign territory. The Tianjin FTZ is part of a push to better integrate the city with nearby Beijing and Hebei province.
A statement from the politburo said the establishment of FTZs aimed to"deepen reform" and "expand ope up to explore new approaches", adding the Shanghai zone had shown "positive progress" since its founding according to Xinhua.
The American Chamber of Commerce in Shanghai said this month that 73 percent of the 377 companies res ng to its annual business climate survey said the FTZ offers "no tangible benefits" for them.
A former top official of the Shanghai FTZ, executive deputy director Dai Haibo,is now under investigation for violating the law, authorities said earlier this month, but gave no details.